Gold and silver start the new trading week with little change. But that’s just a snapshot. If, according to Thomas Puppendahl, founder of Chancery Asset Management, gold and silver are on the rise of epic proportions. He sees gold going up to $ 5,000 and silver going up to $ 50 over the next three years.
Just another snowflake?
For Puppendhal, the outbreak of the corona pandemic is just “the one snowflake that triggered the avalanche,” he says in an interview. In his view, gold and silver are still in the early stages of a new bull market.
“This is likely to be the largest and largest percentage of the bull market since the turn of the millennium.” He expects gold to rise to $ 3,000 to $ 5,000 in the medium term and silver to go from $ 18 to $ 50 over the next three years. He also assumes that silver will finally perform better than gold. So far, it has been an invisible bull market that has received little public attention. “So far, mainstream investors have completely missed out on this increase because they are particularly keen on the gold price in US dollars – which is still below the all-time high. But gold has already hit a new all-time high in most other currencies. ”